03-15-2005, 12:22 AM #1
Who here makes their money work for them as opposed to working for their money?
I know it is risky, blah blah blah, the bigger the risk the bigger the reward, but is anyone seriously in to day trading? Next time I got 10k to spare I am thinking about giving it a shot. I heard there is an online game where you can practice and use actual stocks, and it keeps track of your trades, gains, losses, etc. If anyone is familiar with this game, program, whatever you want to call it, could you PM it to me?
03-15-2005, 12:34 AM #2
I'm interested in this program also if there is such a thing. Probably better than playing online poker during the day anyways.
03-15-2005, 12:35 AM #3
wish I knew man, but if you do find this game, let me know, I am definately interested in it.
03-15-2005, 12:55 AM #4
Don't play this crap, it's the modern day equivalent of bucket shop trading. For 99% of the people who play speculation games it is a losing proposition. Day trading and all forms of 'investing' like it are almost a Ponzi scheme. Some fools will try to tell you they made such and such day trading and while it might be true, like a good run at the craps table, it won't last for long. Get into real estate or something, the stock market is a bad place to gambling.
Originally Posted by Lozgod
03-15-2005, 01:02 AM #5
My credit won't let me get in to real estate. I am looking for a moderately risky investment because that is where the money is. What I really want to do is open a certain kind of restaraunt in an area that doesn't have this certain kind of restaurant. It is going to take about 50k to do it. I know I can come up with 10k to invest in something, but 50 is a stretch, so I need something to flip the money. People aren't in to day trading because they go broke doing it, there are people that make money in it. I got plenty of time to study trends and stuff like that. I know somedays you lose, some you win. Can't make a cake without breaking eggs. I wouldn't put it all in the quick buy quick sell stocks, I would put a small percentage in blue chips so worse case scenario I walk away with something.
Originally Posted by chicamahomico
03-15-2005, 01:05 AM #6Originally Posted by chicamahomico
I was about to do some day trading myself then someone told me it is so risky you are better off gambling in vegas as the odds are better there then day trading.
03-15-2005, 01:33 AM #7
If owning a restaurant is something you are serious about then IMO you should sack away that 10K in some safe investment like a bond fund and figure out a work and savings plan (say 3-5 year) that will allow you to make the restaurant thing a reality. Besides, you want to go into business you may as well get that FICO score up cause you are going to need access to credit at some point in your business career. Don't fall prey to thinking you won't need it, the cash only business model really only works in the illegal goods market.
Originally Posted by Lozgod
Just to clarify I'm not against the stock market at all in fact I love it but it's definitely suited for long term investors.
Originally Posted by IntensityX
Last edited by chicamahomico; 03-15-2005 at 01:40 AM.
03-15-2005, 01:44 AM #8
What would be best, opening a restaurant or a nightclub? I want to be my own boss, just lack the founds to do so...
03-15-2005, 01:47 AM #9Originally Posted by palme
03-15-2005, 01:51 AM #10
A good sushi restaurant and a irish pub, that would be awsome owning.
Banks loan you money if you have a good idea right?
03-15-2005, 01:58 AM #11Originally Posted by palme
03-15-2005, 04:06 AM #12CutieFace Guest
I'm into real estate baby....keep your stocks....
03-15-2005, 04:12 AM #13
03-15-2005, 04:24 AM #14
Yeah Ive been watching news and stock markets... watch Genentech (ticker Symbol DNA) its gonna be doing quite well really soon. I have no money to put on it though... im gonna watch anyway see if I'm right
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